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Balance Sheet Items (Tables)
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Restricted Cash Balance Our restricted cash balance as of December 31, 2023 was as follows:
(Dollars in millions)20242023
Restricted cash$— $2.2 
Schedule of Accounts, Notes, Loans and Financing Receivable
The “Accounts receivable, less allowance for credit losses” line item in the consolidated statements of financial position, as of December 31, 2024 and 2023, consisted of the following:
(Dollars in millions)20242023
Accounts receivable - trade$123.6 $143.2 
Accounts receivable - other11.7 18.7 
Total accounts receivable$135.3 $161.9 
Schedule of Reportable Segment Information Our contract assets by operating segment as of December 31, 2024 and 2023, were as follows:
(Dollars in millions)20242023
Advanced Electronics Solutions$18.9 $41.4 
Elastomeric Material Solutions0.7 0.4 
Other4.1 3.4 
Total contract assets$23.7 $45.2 
The following table presents a disaggregation of revenue from contracts with customers and other pertinent financial information, for the periods indicated; inter-segment sales have been eliminated from the net sales data:
(Dollars in millions)Advanced Electronics SolutionsElastomeric Material SolutionsOtherTotal
December 31, 2024
Net sales - recognized over time$169.4 $5.3 $16.5 $191.2 
Net sales - recognized at a point in time$282.8 $355.6 $0.5 $638.9 
Total net sales$452.2 $360.9 $17.0 $830.1 
Cost of sales$319.6 $222.4 $11.0 $553.0 
Gross margin$132.6 $138.5 $6.0 $277.1 
Inventories, net$77.8 $62.8 $1.7 $142.3 
Depreciation expense$17.5 $8.7 $0.7 $26.9 
December 31, 2023
Net sales - recognized over time$234.1 $19.6 $15.8 $269.5 
Net sales - recognized at a point in time$275.6 $359.4 $3.9 $638.9 
Total net sales$509.7 $379.0 $19.7 $908.4 
Cost of sales$352.1 $237.0 $12.2 $601.3 
Gross margin$157.6 $142.0 $7.5 $307.1 
Inventories, net$86.7 $64.6 $2.2 $153.5 
Depreciation expense$17.7 $8.5 $0.7 $26.9 
December 31, 2022
Net sales - recognized over time$227.0 $15.9 $16.4 $259.3 
Net sales - recognized at a point in time$303.2 $404.1 $4.6 $711.9 
Total net sales$530.2 $420.0 $21.0 $971.2 
Cost of sales$358.7 $278.4 $13.1 $650.2 
Gross margin$171.5 $141.6 $7.9 $321.0 
Inventories, net$97.3 $81.7 $3.4 $182.4 
Depreciation expense$16.6 $7.8 $0.7 $25.1 
Operating Segment Net Sales by Geographic Area
The following table presents net sales by our operating segment operations by geographic area for the years indicated:
(Dollars in millions)
Net Sales(1)
Region/CountryAdvanced Electronics SolutionsElastomeric Material SolutionsOtherTotal
December 31, 2024
U.S.$80.8 $136.5 $3.6 $220.9 
Other Americas4.2 15.5 0.5 20.2 
Total Americas85.0 152.0 4.1 241.1 
China140.0 99.2 4.8 244.0 
Other APAC90.9 30.1 2.4 123.4 
Total APAC230.9 129.3 7.2 367.4 
Germany74.9 26.7 0.6 102.2 
Other EMEA61.4 52.9 5.1 119.4 
Total EMEA136.3 79.6 5.7 221.6 
Total net sales$452.2 $360.9 $17.0 $830.1 
December 31, 2023
U.S.$81.1 $155.4 $3.9 $240.4 
Other Americas3.6 13.7 0.3 17.6 
Total Americas84.7 169.1 4.2 258.0 
China144.6 93.0 4.3 241.9 
Other APAC88.3 31.7 5.6 125.6 
Total APAC232.9 124.7 9.9 367.5 
Germany95.2 28.3 0.5 124.0 
Other EMEA96.9 56.9 5.1 158.9 
Total EMEA192.1 85.2 5.6 282.9 
Total net sales$509.7 $379.0 $19.7 $908.4 
December 31, 2022
U.S.$122.7 $169.4 $4.5 $296.6 
Other Americas6.6 15.4 0.3 22.3 
Total Americas129.3 184.8 4.8 318.9 
China154.4 121.7 7.4 283.5 
Other APAC75.2 31.4 2.7 109.3 
Total APAC229.6 153.1 10.1 392.8 
Germany78.7 30.4 1.1 110.2 
Other EMEA92.6 51.7 5.0 149.3 
Total EMEA171.3 82.1 6.1 259.5 
Total net sales$530.2 $420.0 $21.0 $971.2 
(1) Net sales are allocated to countries based on the location of the customer. The table above lists individual countries with 10% or more of net sales for the periods indicated.
Schedule of Inventory
The “Inventories, net” line item in the consolidated statements of financial position, as of December 31, 2024 and 2023, consisted of the following:
(Dollars in millions)20242023
Raw materials$62.7 $71.5 
Work-in-process41.7 45.6 
Finished goods37.9 36.4 
Total inventories, net$142.3 $153.5 
Schedule of Accounts Payable and Accrued Liabilities
The “Accounts payable” line item in the consolidated statements of financial position, as of December 31, 2024 and 2023, consisted of the following:
(Dollars in millions)20242023
Accounts payable - trade$45.6 $46.3 
Accounts payable - other2.5 4.0 
Total accounts payable$48.1 $50.3 
Schedule of Long-lived Assets By Geographic Region
Our long-lived assets(1) by geographic area, as of December 31, 2024 and 2023, were as follows:
(Dollars in millions)20242023
U.S.$375.5 $384.1 
England159.6 166.7 
Germany136.4 148.9 
China107.6 83.4 
Other78.0 85.8 
Total long-lived assets$857.1 $868.9 
(1) Long-lived assets are based on the location of the asset and are comprised of goodwill, other intangible assets, property, plant and equipment and right-of-use assets. Countries with 10% or more of long-lived assets have been disclosed.